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Iranian companies insure Bushehr atomic power station

Business Materials 20 July 2011 20:45
The Iranian insurance company Iran Industry Insurance insured the construction stage of the Bushehr atomic power station, the official TV channel Irib News reported.
Iranian companies insure Bushehr atomic power station

Azerbaijan , Baku, July 20 / Trend /

The Iranian insurance company Iran Industry Insurance insured the construction stage of the Bushehr atomic power station, the official TV channel Irib News reported.

Two local insurance companies, including IRI Central Insurance, currently participate in insuring the station in its launching and testing stage. About 45.5 percent, or $200 million, falls to IRI Central Insurance. About 25 percent of the total amount is compulsory insurance.

The remaining 54.5 percent is allocated to an undisclosed company.

Construction of the Bushehr plant was started in 1975 by several German companies. Russia signed a contract with Iran to complete the construction in 1998.

On Aug. 25, 1992, Russia and Iran signed an agreement to continue constructing a nuclear power plant. In January 1995 a contract to complete the works on the first power unit was signed and in 1998 construction management was transferred to AtomStroyExport.

The Bushehr plant was originally scheduled to be completed in 1999 but the work has repeatedly been postponed in connection with financial and technological difficulties, and also because of several construction suspensions under U.S. pressure.

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